ADCB’s pioneering MOBIbucks mobile payment service wins Best M-Payment Initiative award at The Mobile Show 2012

Press release

Published April 23rd, 2012 - 10:49 GMT

Al Bawaba

Abu Dhabi Commercial Bank (ADCB) and MOBIbucks, a leading global provider of mobile payment solutions, have won the Best M-Payment Initiative award at The Mobile Show 2012 awards ceremony that was held recently at Madinat Jumeirah.

ADCB won the award for Mobi, a pioneering payment product for making purchases using a mobile phone number.

ADCB is the world’s first bank to offer this unique mobile payment service which provide customers with a patented cashless, card-less, paperless and phone-less payment solution that targets everyday purchases made by consumers. The credit of winning this award goes to the bank’s IT team that worked closely with MOBIbucks to implement this service.

Mobi perfectly met one of the chief criteria of the award – innovation -- as Mobi is driven by innovation, according to Ziad Alshobaki, MOBIbucks managing director, MENA operations. “This new mobile payment service launched for the entire world by ADCB will change the way people pay for purchases globally. ADCB is thus leading the way.”

Mobi has been providing convenience and flexibility to ADCB customers. The panel of judges recognized that the new mobile based service was by far the most superior.

The importance of this service, according to Alshobaki, lies in the fact that it is a simple payment solution that gives the bank’s customers convenient and affordable access to their money from any mobile phone.

The Mobies awards are designed to reward those companies that demonstrate an unparalleled ability to succeed and have continually set standards of excellence in the mobile communications industry.

Background Information

Abu Dhabi Commercial Bank

ADCB was formed in 1985 and today after integration employs over 3,350 people from over 45 nationalities, serving approximately 590,000 retail customers and over 20,000 wholesale clients. It is the third largest bank in the UAE and second largest in Abu Dhabi by assets, at AED 163.7 billion as at March 31st, 2010.

ADCB is a full-service commercial bank which offers a wide range of products and services such as retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange, interest rate, currency, derivative, Islamic products, project finance and property management services.

ADCB is owned 64.8% by the Abu Dhabi Government through the Abu Dhabi Investment Council. Its shares are traded on the Abu Dhabi Securities Market.

ADCB has won the Silver class category of The Sheikh Khalifa Excellence Award (SKEA) for the finance sector in November, 2009. In February 2010, ADCB won The World Finance Corporate Governance Award for “Best Corporate Governance in the UAE” and was recently named “Best Retail Bank in the UAE and GCC 2010” by The Asian Banker magazine in March 2010.